Spain Property News

Spain’s highest sales increase since 2008

Spain’s highest sales increase since 2008
Recent figures released by the Ministry of Development indicate Spain’s highest increase in property sales in four years, according to a press release by Taylor Wimpey.

The figures revealed that over 9,500 housing sales were made by foreigners in Spain during Q2 2012, a 12% rise on the last quarter.

These are the highest figures since 2008, when sales reached 11,130.
The fall in property prices is thought to have contributed to this rise: in the same quarter, prices dropped by 8.3%.

However, Marc Pritchard, Sales and Marketing Manager of Taylor Wimpey, believes that factors such as Spain’s reliable good weather and the strength of the pound against the euro also have an impact.

“There are numerous reasons why Spain still ranks top of the list for property buyers,” he said.
In terms of location, it was Alicante which generated the most sales of 2,645. This was followed by Malaga with 1,127 and Barcelona with 847.

Mr Pritchard said “it’s not surprising that most of the property transactions in Spain have taken place in Alicante, Costa Blanca.”

“It is traditionally a favourite destination for foreign buyers drawn to the clear blue waters, miles of golden sandy beaches, quaint villages, sophisticated cafes and restaurants and an abundance of historical, cultural and leisure activities,” he added.As a result of its popularity, Taylor Wimpey is launching a front line development near Alicante this autumn.